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BEIJING, Nov. 26 (Xinhua) -- China's central government Thursday announced it is to join local governments and private investors in a pilot program to facilitate venture capital funds for innovative and high- technology industries, and industrial restructuring.

The National Development and Reform Commission, the country's top economic planning body, and Ministry of Finance announced in a joint statement plans to create venture capital funds in accordance with the central government's call to promote development of innovative businesses with growth potential.

China pilots venture capital funds for innovation, restructuring _English_Xinhua